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My mentality - my problem

  • #321
  • Aug 15, 2013 4:28am Aug 15, 2013 4:28am
Quoting Eur Usd
amazing guy - http://www.forexfactory.com/taxi*driver#07 - I wonder why he got out after such a good profit - he could be rich within two years
Why you wonder - I have one thread I have no time or wish to keep up as I´m lazy bastard but there is the system I use.
I have made few minor changes on it, if you are interested, I can provide you set I have used since February.
F_ck your analysis, I know exactly where the market will go. To the right.
  • #322
  • Aug 15, 2013 5:10am Aug 15, 2013 5:10am
Quoting FerruFx
{quote} You should put on top of your list to never look back at your losses when you enter the next trade. Revenge trading isn't allowed ... NEVER.
I know it very well, it is the feeling I have to fight with. That's why I need time to settle and forget.
Once I'll get back onto live account I'll reset the explorer - it will be fresh start.
On my way to financial independence - if others can do it - I can do it
  • #323
  • Aug 15, 2013 5:12am Aug 15, 2013 5:12am
Quoting Taxi Driver
{quote} Why you wonder - I have one thread I have no time or wish to keep up as I´m lazy bastard but there is the system I use. I have made few minor changes on it, if you are interested, I can provide you set I have used since February.
please write more about your system, it's really interesting. I didn't mean to criticise you, you had nice performance and it seemed unusual that you got out - really good profits - good luck and thanks for visiting the thread
On my way to financial independence - if others can do it - I can do it
  • #324
  • Aug 15, 2013 9:28am Aug 15, 2013 9:28am
EU,

The most important thing for you to do first is take a step back and be grateful for what you do have in your life and not what is missing from it. Spend time with your family, love your life and don't let you desire to improve things for your family make you loose sight of what you already have.

Take your trading one day at a time and only focus on there here and now, and not on how many pips you think you need to get to where you want to go. Focus on simple and find a method of trading that only requires a couple of decision points to enter a trade and if you are going to trade using j16 or follow what 60minuteman does but focus initially only on 1 specific setup and master it and then start adding new setups as you fully master them. You need to get to the point where you just don't care about any 1 trade.
  • #325
  • Aug 15, 2013 10:03am Aug 15, 2013 10:03am
Quoting endroute
EU, The most important thing for you to do first is take a step back and be grateful for what you do have in your life and not what is missing from it. Spend time with your family, love your life and don't let you desire to improve things for your family make you loose sight of what you already have.
so true. I should be happy with the fact I live in quite wealthy country, have a job, health, nice family and rest will come. worrying now can just spoil it all
On my way to financial independence - if others can do it - I can do it
  • #326
  • Aug 16, 2013 12:13pm Aug 16, 2013 12:13pm
Quoting Eur Usd
{quote} so true. I should be happy with the fact I live in quite wealthy country, have a job, health, nice family and rest will come. worrying now can just spoil it all
You´re right!
.., and don´t watch toooooo much about profits others do.. .. You make your day!
.. And Choros/ dance is still great!
during the summer months i saw the best entries for a touch after the news, because there´s the priceaction.
#I donot trade the news by themself , but I got my first valid pips !!!!! REALLY ... IT WORKS!
Wish you a nice weekend!
Risiko birgt immer auch die Chance.
  • #327
  • Aug 17, 2013 6:41am Aug 17, 2013 6:41am
Quoting Sesamstrasse
{quote} You´re right! .., and don´t watch toooooo much about profits others do.. .. You make your day! .. And Choros/ dance is still great! during the summer months i saw the best entries for a touch after the news, because there´s the priceaction. #I donot trade the news by themself , but I got my first valid pips !!!!! REALLY ... IT WORKS! Wish you a nice weekend!
have a nice weekend too.

I remember there was time when I was trading news only - thanks God only on demo account.
I was trading only EUR/USD and was waiting for news releases from EUR and US zone marked on ff as red and orange - of course red were better to trade
the idea was 100% of account in trade, no s/l and high tp with at least 30 pips
on EUR news when released news were marked green I was going long, when red going short
on US news the opposite - green was short and red was long.
and it was working well for a while, but then I noticed that on US news releases price started to go against the news for about 30-40 pis and then was going according to news release - it was wiping people's s/l and reversing - I can't remember why but I stopped trading this way, probably wiped my demo one day ;-)
On my way to financial independence - if others can do it - I can do it
  • #328
  • Edited 6:55am Aug 17, 2013 6:45am | Edited 6:55am
Quoting Sesamstrasse
And Choros/ dance is still great!
it is, just harder to trade when markets are not trending. On trending markets MAs are steep and even when you trade 5th touch of the 10 ema it still works. now the markets are not trending so much, so it's harder, and you need patience to find good setup, and it kills me sometimes. I need to learn more about PA - will be easier to trade

what I noticed is that physical excercises help to trade, even having sex does - the worst thing a trader can do himself is to stay at computer/at home for long period of time - lack of activities other than tradig will affect you sooner or later

van Tharp and Douglas both were writing about other activities that help to trade. can't remember which of them mentioned about what, but in general what was recommended was meditation (which I find too hard to focus on and am too lazy to do it, I tried only once or twice to be honest, and all this imagining the air getting into lunges and the flow of it and the air exhaled - it was too hard ) and watching comedies. it was recommended to watch a comedy every single evening just to have a laugh, just to get into right mood, to look at things more positive.
On my way to financial independence - if others can do it - I can do it
  • #329
  • Aug 17, 2013 7:16am Aug 17, 2013 7:16am
Hi Eur Usd, the issues that you are having are going to resolve only if you can change your self-image. I recommend that you read the following book. Digest every word and immerse yourself in it. I wish you best of Luck.
Attached File(s)
File Type: pdf EmotionFreeTradingBook.pdf   484 KB | 416 downloads
Trading can't be taught but it can be learned
  • #330
  • Aug 17, 2013 7:22am Aug 17, 2013 7:22am
Quoting Pipsninja
Hi Eur Usd, the issues that you are having are going to resolve only if you can change your self-image. I recommend that you read the following book. Digest every word and immerse yourself in it. I wish you best of Luck. {image}
Thanks, I'll have a look ;-)
I'm also going for real holidays in 2 weeks. I haven't been on real holidays for 4 years - I've been away twice each year, but I was coming back really exhaused as it was family and friends visits. This time I'll be away, and will stay away from all electronic devices. only sport, swimming pool, sightseeing and lager
On my way to financial independence - if others can do it - I can do it
  • #331
  • Aug 17, 2013 9:02am Aug 17, 2013 9:02am
Quoting Eur Usd
it is, just harder to trade when markets are not trending.
If you know that markets are not trending and you don't like it ... so don't trade ... just wait the markets to be in the situation that fit your style.
MT4/MT5 EAs/Indicators/Alerts coder
  • #332
  • Aug 17, 2013 9:22am Aug 17, 2013 9:22am
Quoting Eur Usd
{quote} it is, just harder to trade when markets are not trending. On trending markets MAs are steep and even when you trade 5th touch of the 10 ema it still works. now the markets are not trending so much, so it's harder, and you need patience to find good setup, and it kills me sometimes. I need to learn more about PA - will be easier to trade what I noticed is that physical excercises help to trade, even having sex does - the worst thing a trader can do himself is to stay at computer/at home for long period of time - lack of activities other...
You are searching for a way to trade. ... out there ...
There is no such thing.
You must burn all the books and tech indicators and systems on a giant bon fire and their creators with them. Only then will you find a way for yourself. But you won't know that until you have exhausted all avenues...
  • #333
  • Aug 17, 2013 9:31am Aug 17, 2013 9:31am
Quoting Mingary
{quote} You must burn all the books and tech indicators and systems on a giant bon fire and their creators with them. Only then will you find a way for yourself. But you won't know that until you have exhausted all avenues...
that's great idea - then I can take the creators' money and I won't have to trade - one thing wonders me - how will I avoid life sentence for doing that?
On my way to financial independence - if others can do it - I can do it
  • #334
  • Aug 17, 2013 9:33am Aug 17, 2013 9:33am
Quoting Eur Usd
{quote} that's great idea - then I can take the creators' money and I won't have to trade - one thing wonders me - how will I avoid life sentence for doing that?
I was speaking figuratively.
  • #335
  • Aug 17, 2013 9:36am Aug 17, 2013 9:36am
Quoting Mingary
{quote} I was speaking figuratively.
I get it.
but then I cannot take their money ....
... and still need to figure out how to trade
On my way to financial independence - if others can do it - I can do it
  • #336
  • Aug 17, 2013 9:40am Aug 17, 2013 9:40am
Quoting Mingary
{quote} I was speaking figuratively.

out of curiosity - Tuvalu is a really small country - how does it look? I mean there is about 11k people living there. do you all know each other (not personaly, but you do see each other somewhere in the capital?)
On my way to financial independence - if others can do it - I can do it
  • #337
  • Aug 17, 2013 11:19am Aug 17, 2013 11:19am
this thread looks like some silly blog now ;-) sorry if it suxxxx

I did read the thread today and I must say nothing has changed. I am doing same mistakes.
3 same positions at once equal to 95% of account -> if they go against me I loose a lot
trading from work -> I loose a lot
trading when I am in a bad mood -> less patience -> I loose a lot.
these were the last puzzles to method I trade. now I need to start seeing trading as a bigger picture - as "where will I be in 5 years if I stick to rules" rather than "I wonder how much I will earn today"
I also seen some of my past trades that were successful - helps a lot, some of them don't look like trades I would take now. need to analyse them and need to check current chart with last few day's of data if it would still work
after weekend I'll be trading 4 days in a row - will do my best - not to profit but to keep the discipline
enough of bullshit

have a nice weekend guys ;-)
On my way to financial independence - if others can do it - I can do it
  • #338
  • Aug 19, 2013 1:01am Aug 19, 2013 1:01am
Quoting Mingary
{quote} You must burn all the books and tech indicators and systems on a giant bon fire and their creators with them. Only then will you find a way for yourself. But you won't know that until you have exhausted all avenues...


Quoting Eur Usd
{quote} that's great idea - then I can take the creators' money and I won't have to trade - one thing wonders me - how will I avoid life sentence for doing that?
What I mean is something like this:

http://www.dailybuddhism.com/archives/670
  • #339
  • Aug 19, 2013 5:13am Aug 19, 2013 5:13am
I jumped into this trade as I noticed the price goes up rapidly. I was expecting higher move but I got out due to price was hesitating with 23 pips profit - better to be safe than sorry
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On my way to financial independence - if others can do it - I can do it
  • #340
  • Edited 5:53am Aug 19, 2013 5:21am | Edited 5:53am
and another one. price obeys round numbers - it got to 131 and was hesitating so I shorted it with 7 pips s/l, after it went down over 10 pips, I did move s/l to be+few pips, and t/p above 10 ema - thinking that the price reverses to 10 ema already. It got back up but still locked few pips/ that's it for me for today. no news today, so it will be hard to catch something more. I'll do some cleaning at home, will do myself breakfast, learn some about price action. tomorrow will be another day to trade. I expect EJ will get to 131.30 area today (daily pivot's r3) and fall back, but can't be sure, and can't be bothered to wait for it.
Today's profit: 28 pips, 3.1% - I don't need more. 2 trades, both profitable. 3% daily over a year are better than 20% daily for a month and blown account after it ;-)

I nearly recovered mentally. still feel bad, but started looking on trading in different way.
I am reading this book:
Quoting Pipsninja
Hi Eur Usd, the issues that you are having are going to resolve only if you can change your self-image. I recommend that you read the following book. Digest every word and immerse yourself in it. I wish you best of Luck. {image}

and most of the things I read there I already knew - but gave me one great idea: setting long term goal - I feel like I had one anyway, but this time I told myself: I need 5 years, not a year, not 2 years - I need 5 years to get where I want to get and I won't give a strict amount , but I know that if I stick to discipline within 5 years my life will change. but before then I cannot rely on trading as a source of easy money, or as a full time job, I have to treat trading as long time investment. I will keep working, I will try to find a part time job on nights or weekends - it will give me financial security, will allow me to rebuild emergency fund after we take mortgage. I cannot count, hope, pray, I need to be disciplined and stick to the track I chose. I will get there only with patience and discipline.
What I noticed on ff is that people that see in fx the only life changing opportunity - they fail and blew accounts. people relaxed with other sources of income will most likely succeed as they don't trade to live. they trade because they like it. trading with knife at your throat is not the best idea
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On my way to financial independence - if others can do it - I can do it
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